Just finished reading the article. I already started disagreeing with the author while reading the first line. Mass exodus? What is he referring to? How does he differentiate mass exodus from being simply out of touch with users' needs? Mass exodus from social networks looks to me like a typical low-signal-high-noise opinionated clickbait, not fact-based journalism.
If there was a mass exodus, I think we should observe it from our own eyes. In my case, nobody around me is (finally) leaving WhatsApp and nobody is quitting Twitter. I don't have thousands of "friends" but I think I can assume that I would actually see these platforms bleed out if there was a mass exodus in progress, and more particularly, I'd see where they are going to.
I think the author's vision appears to be constructed on the premise that he perceives social networks as all-powerful businesses ("Today, it’s getting harder to believe that these networks will last forever."). I think he is sharing his own delusion about social networks with the public and trying to find an escape to the dissonance that ensued from the decline of their stock price. For more than 5 years now, Facebook has been offering nothing more than a worldwide directory and a stalking service to its users in exchange for their data, in my opinion. If we do the analogy with a milk company, he is basically surprised that cows are leaving the farm because they don't get anything valuable in return (the actual customers are the buyers of milk).
What surprises me though, is the fact that he seems to miss an elephant in the room. It seems to me that these companies are failing simply because they are engaged in a very expensive operation that doesn't generate a lot of revenue anymore. And the reason for this decrease in revenue cannot be simply explained with users exodus or attrition: Meta still owns Instagram, TikTok is doing very well and many social networks are reporting massive users intake. What is happening in my opinion is just pure simple and raw competition.
Finally, he also seems to neglect the potential behind Meta's investment in metaverse tech. I wouldn't dare betting on this: there are thousands of signals worldwide that show that metaverse technologies could disrupt society the same way Internet and touch screen smartphones disrupted our daily lives. Nobody knows whether Zuckerberg is at the "right place, right time" for the moment, he may as much as he may not be. But if he is...